Is US Debt Really $90 Trillion? – Mark Skidmore

Sunday, June 28, 2020
By Paul Martin

By Greg Hunter
USAWatchdog.com
June 28, 2020

Three years ago, Michigan State Economics Professor Mark Skidmore revealed there was $21 trillion in what he calls “Missing Money” from the Department of Defense (DOD) and Housing and Urban Development (HUD). This was a stunning revelation and the biggest auditing discovery in the history of accounting, but now this revelation comes in second with Dr. Skidmore’s latest update to the “Missing Money” question which is now the biggest in history by a long shot. Skidmore’s research reveals the US Treasury market is rolling over $90 trillion to support the official debt of $22 trillion (2019). Why do you need to churn $90 trillion in debt? Is the US debt really $90 trillion? Skidmore says, “It’s not that we are moving to short term debt that would need more turn over. That’s not it. The only other explanation I can come up with is that the federal government, the Treasury, is supporting more debt with the reissuance than is officially recognized. I am floating this around and asking people to have a look at this and tell me if there is some other possible explanation. I don’t know of one. . . . This is a discrepancy. Why do we have $22 trillion in debt, but $90 trillion in reissuance?”

Skidmore goes on to say, “It’s possible that over the years, we spent a lot more money than is acknowledged. The implications of that are very important. Is it fraud? I have tried really hard to get information, and it’s been quite an experience. This make you question the structure of the system. Is this fraud? I have to be able to prove it, but I have documents that say something is really, really wrong, and it’s not just bad accounting.”

What could go wrong with this much hidden debt? Skidmore says, “Yes, it is concerning to me because this could blow up. We don’t know when or how, but if people lose confidence in our government, they could lose confidence in the currency. That could have severe impacts on lots of people in the whole global economy above and beyond what we are experiencing now. . . . Is there some reset in play? Is there some bigger issue at stake? Is this pulling away with other goals in mind? Yes, I think so. I don’t know how this all fits together, but I do know there is something else going on that we all need to pay attention to.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Economics Professor Mark Skidmore from Michigan State University.

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